Formtech relocating profiles operation
FAIRVIEW, PA. - Formtech Enterprises Inc. is planning to move its Erie, Pa., profile extrusion plant by the end of the year to a new 80,000-square-foot plant to be built about 10 miles away in Fairview.
Formtech, based in Stow, Ohio, makes components for office furniture, window and door lineals and wood-filled plastic products. Its Erie operation mainly makes point-of-purchase displays.
Dave Turk, president and chief executive officer, said by e-mail that the company had committed to the project May 4. Formtech currently leases an 80,000-square-foot facility in Erie, which it took over when it acquired profile extruder Yates Co. in December 2000.
The company is running 15 extrusion lines in Erie. However, it is looking forward to using a more modern building to improve process flow and prepare for future growth, according to Jeff Keil, chief financial officer.
Keil said the firm had received help in financing from the Greater Erie Industrial Development Corp. Formtech will use a $1.8 million Pennsylvania Industrial Development Authority loan, along with other financing, to put up the building.
According to the PIDA agreement, Formtech will move 51 jobs and will create at least 12 more in the next three years.
Excalibur expanding injection molding biz
BROOKSVILLE, FLA. - Excalibur Manufacturing Corp. added two Nissei molding machines in April.
``We are channeling more of our efforts towards molding. We started out as mold makers in '89 and did custom work for everyone, but now we want to target our own customers - build the molds and do the molding,'' said President Douglas Schneider.
The firm last month added a 75-ton vertical rotary machine and 200-ton horizontal press. Excalibur now has seven injection molding machines ranging from 40-250 tons of clamping force. It has 27 employees working in an 8,000-square-foot facility.
Schneider said Excalibur had $2.3 million in sales last year. Its end markets include electrical, automotive, medical, recreational and home product industries.
Schneider said he and his partner, Wade Thomas, have worked to diversify the business as offshore competition grows. One advantage is that the firm is located in the Hernando Airport Industrial Park, so customers can fly in and check product.
The firm may add two more presses and 6,400 square feet of space in the next year, he said.
ATP molding plant invests in upgrades
RADNOR, PA. - ATP Engineered Rubber & Plastics Group has made $500,000 worth of improvements to its Monticello, Iowa, injection molding plant, including new equipment.
The firm added three raw material dryers, a hot-oil temperature control unit and two water-tower cooling systems for the molding operations. For the tooling side of the business, ATP added a computer numerically controlled milling machine and 72-station automatic robotic tool changer.
ATP also bought a color spectrometer, a moisture analyzer and new laboratory equipment to test melt flow, impact and tensile strength and elongation. The eight-month renovation also included new flooring and lighting.
The Iowa facility has both insert molding and overmolding and is one of five plants within Radnor-based ATP's Rubber & Plastics Group.
Auto painter Fincore hangs for-sale sign
TORONTO - Plastic and metal painting operation Fincore Industries Inc. in Toronto is for sale.
The Tier-2 auto supplier paints bumpers, body side moldings, applied hardware and wheels, using electrodeposition, powder coating and liquid base-coat and clear-coat systems. It recently invested several million dollars to upgrade production.
Court-appointed interim receiver BDO Dunwoody Ltd. of Toronto is accepting offers until May 31.